Is Kontoor Brands (KTB) Shares Performing Better Than Other Consumer Discretionary Stocks This Year?

Is Kontoor Brands Leading the Consumer Discretionary Sector?

While the Consumer Discretionary sector offers a wide selection of promising stocks, it's important for investors to identify those companies that are outperforming their industry peers. One stock to consider is Kontoor Brands (KTB). By comparing its year-to-date performance with the broader Consumer Discretionary sector, we can gauge how well it’s doing.

Kontoor Brands is part of a group of 258 companies within the Consumer Discretionary sector, which currently holds the #7 spot in the Zacks Sector Rank. This ranking system evaluates the strength of 16 different sectors by analyzing the average Zacks Rank of the stocks within each group.

The Zacks Rank is a well-regarded tool that focuses on earnings forecasts and revisions, helping to spotlight stocks with the potential to outperform the market over the next one to three months. At present, Kontoor Brands holds a Zacks Rank of #2 (Buy).

In the last quarter, analyst expectations for KTB’s full-year earnings have climbed by 11.6%, reflecting growing optimism and a positive outlook for the company’s financial performance.

According to the most recent data, KTB has advanced approximately 19.4% since the start of the year. In contrast, the Consumer Discretionary sector as a whole has seen an average decline of 4.3% year-to-date. This demonstrates that Kontoor Brands is significantly outpacing its sector peers in 2024.

Another notable performer in the sector is Laureate Education (LAUR), which has gained 1.7% so far this year.

Over the past three months, the consensus earnings estimate for Laureate Education has increased by 3.6% for the current year. This stock also carries a Zacks Rank of #2 (Buy).

Industry Breakdown: Textile - Apparel and Schools

Kontoor Brands operates within the Textile - Apparel industry, which consists of 21 companies and is currently ranked #76 in the Zacks Industry Rank. This group has posted an average gain of 0.6% year-to-date, indicating that KTB is outperforming its industry as well.

Laureate Education, on the other hand, is part of the Schools industry, which includes 18 companies and is ranked #20. The Schools industry has delivered a 2% gain so far this year.

For investors interested in the Consumer Discretionary sector, both Kontoor Brands and Laureate Education are worth monitoring as they continue to show strong performance.

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